>

GuocoLand sells entire stake in EcoWorld International for $61 million

By The Edge Singapore

/ EdgeProp Singapore |

May 10, 2024 1:57 AM SGT

London City Island, (Credit: Eco World London website)

GuocoLand has sold off its 27% stake in KL-listed Eco World International for $61 million. This stake was carried on GuocoLand's books at $50 million.

EWI closed at 36 sen on May 10.

In its separate announcement, EWI says Flexsis, a subsidiary of KL-listed property firm Paramount Corporation, has become a new substantial shareholder with a stake of 21.54%.

"On behalf of the board of directors, I extend my warm welcome to Paramount as a new investor of the company,” says EWI chairman Cheah Tek Kuang.

“We also extend our appreciation to the Guoco Group for their investment and contributions since the listing of EcoWorld International, and we wish them continued success in their future endeavours,” he adds.

“Meanwhile, business continues to be carried out as usual. Our group will continue to monetise our inventories with the aim of distributing the excess cash to shareholders as earlier announced,” says Cheah.

GuocoLand shares closed at $1.52 on May 10, up 2.01% for the day and up 3.4% year to date.

Tags:

Guocoland Eco World

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Perennial Holdings and Far East Organization unveil Golden Mile Singapore, and will launch the strata commercial units this month

2

Government ramps up private housing supply; offers three EC sites on Confirmed List

3

Novo Place hits 88.1% as 137 units snapped up in second balloting

4

Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

5

What’s next for Bayshore

Our Site

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

GuocoLand sells entire stake in EcoWorld International for $61 million

Related Articles